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First Merchants (FRME): analyst forecast and price target
Analyst consensus
Strong Buy3 Buy0 Hold0 Sell
Ratings of 3 analysts in the last 3 months · top analysts only12-month forecast
Based on 3 price targets given in the last 3 months, the average target is $47.33, the highest $50.00, the lowest $46.00. The average is +19.5% from the last price of $39.60.
Analyst ratings 6
| Analyst | Firm | Price target | Rating | Upside | Action | Date | Move vs SPY | |
|---|---|---|---|---|---|---|---|---|
| AI xAi Banks - RegionalxAI Grok-3 | TipRanks - xAI | $43.00 | Buy | +8.6% | Upgrade | 16.10.26on TipRanks Oct 15 22:05 | — | |
| AI DeepSeek Banks - RegionalDeepSeek R1-0528 | TipRanks - DeepSeek | $42.00 → $40.00−4.8% | Hold | +1.0% | Reiterated | 16.10.26on TipRanks Oct 15 22:05 | — | |
| AI OpenAI Banks - RegionalOpenAI 4o | TipRanks - OpenAI | $43.00 → $42.00−2.3% | Hold | +6.1% | Reiterated | 16.10.26on TipRanks Oct 15 22:05 | — | |
| AI Anthropic Banks - RegionalAnthropic Opus-4.1 | TipRanks - Anthropic | $41.00 → $40.00−2.4% | Hold | +1.0% | Reiterated | 16.10.26on TipRanks Oct 15 22:05 | — | |
| AI Google Banks - RegionalGemini 2.5Pro | TipRanks - Google | $43.00 → $42.00−2.3% | Hold | +6.1% | Reiterated | 16.10.26on TipRanks Oct 15 22:05 | — | |
| AI PerPlexity Banks - RegionalPerPlexity SonarPro | TipRanks - PerPlexity | $44.00 → $42.00−4.5% | Hold | +6.1% | Downgrade | 16.10.26on TipRanks Oct 15 22:05 | — | |
| Daniel Tamayo★★★★★★★★★★#576 · hits 67% · avg +16.4% | Raymond James | $46.00 | Buy | +16.2% | Upgrade | 06.10.26on TipRanks 07:25 | −0.8%next day −0.7% · 5 days −1.4% | ↗ |
| Nathan Race★★★★★★★★★★#325 · hits 68% · avg +14.5% | Piper Sandler | $51.00 → $46.00−9.8% | Buy | +16.2% | Reiterated | 05.10.26on TipRanks 07:00 | −1.6%next day −0.8% · 5 days −1.7% | ↗ |
| AI xAi Banks - RegionalxAI Grok-3 | TipRanks - xAI | $44.00 → $43.00−2.3% | Hold | +8.6% | Reiterated | 01.10.26on TipRanks 16:05 | — | |
| AI OpenAI Banks - RegionalOpenAI 4o | TipRanks - OpenAI | $44.00 → $43.00−2.3% | Hold | +8.6% | Reiterated | 01.10.26on TipRanks 16:05 | — | |
| AI Anthropic Banks - RegionalAnthropic Opus-4.1 | TipRanks - Anthropic | $42.00 → $41.00−2.4% | Hold | +3.5% | Reiterated | 01.10.26on TipRanks 16:05 | — | |
| AI Google Banks - RegionalGemini 2.5Pro | TipRanks - Google | $44.00 → $43.00−2.3% | Hold | +8.6% | Reiterated | 01.10.26on TipRanks 16:05 | — | |
| AI PerPlexity Banks - RegionalPerPlexity SonarPro | TipRanks - PerPlexity | $45.00 → $44.00−2.2% | Buy | +11.1% | Reiterated | 01.10.26on TipRanks 16:05 | — | |
| AI xAi Banks - RegionalxAI Grok-3 | TipRanks - xAI | $44.00 | Hold | +11.1% | Downgrade | 25.09.26on TipRanks 16:05 | — | |
| AI DeepSeek Banks - RegionalDeepSeek R1-0528 | TipRanks - DeepSeek | $42.00 | Hold | +6.1% | Reiterated | 25.09.26on TipRanks 16:05 | — | |
| AI OpenAI Banks - RegionalOpenAI 4o | TipRanks - OpenAI | $43.00 → $44.00+2.3% | Hold | +11.1% | Reiterated | 25.09.26on TipRanks 16:05 | — | |
| AI Anthropic Banks - RegionalAnthropic Opus-4.1 | TipRanks - Anthropic | $41.00 → $42.00+2.4% | Hold | +6.1% | Reiterated | 25.09.26on TipRanks 16:05 | — | |
| AI Google Banks - RegionalGemini 2.5Pro | TipRanks - Google | $44.00 | Hold | +11.1% | Reiterated | 25.09.26on TipRanks 16:05 | — | |
| AI PerPlexity Banks - RegionalPerPlexity SonarPro | TipRanks - PerPlexity | $45.00 | Buy | +13.6% | Reiterated | 25.09.26on TipRanks 16:05 | — | |
| Nathan Race★★★★★★★★★★#325 · hits 68% · avg +14.5% | Piper Sandler | $51.00 | Buy | +28.8% | Reiterated | 25.09.26on TipRanks 08:10 | 0.0%next day −0.1% · 5 days −1.2% | ↗ |
| Damon Delmonte★★★★★★★★★★#129 · hits 83% · avg +20.0% | KBW | $50.00 | Buy | +26.3% | Reiterated | 24.07.26on TipRanks 06:55 | +3.0%next day −1.2% · 5 days −1.2% | ↗ |
| Unknown Analyst | Raymond James | — | Hold | — | Reiterated | 27.04.26on TipRanks May 1 21:02 | +1.6%next day +0.9% · 5 days −1.1% | ↗ |
| Unknown Analyst | Stephens | $44.00 | Hold | +11.1% | Reiterated | 28.01.26on TipRanks 19:41 | +3.0%next day +2.5% · 5 days +9.9% | ↗ |
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Every rating the collector has kept for the last 12 months, including the earlier ones of the same analyst. Latest of each analyst
Best analysts covering First Merchants
TipRanks picks them by their record on this stock; the figures under the name are their record across all their ratings.
Most accurate
Most profitable
How the average price target moved
The average target of all analysts (their ratings of the 3 months before) on each day, the top analysts’ dashed, against the price; the site keeps this record since 1 October 2026. On 01.10.26: target $50.50 at a price of $39.78 (+26.9%); now: $47.33 at $39.60 (+19.5%).
PriceAverage targetTop analysts’ target
Recommendation trend · top analysts
Strong BuyBuyHoldSell
| Rating | 05.26 | 06.26 | 07.26 | 08.26 | 09.26 | 10.26 |
|---|---|---|---|---|---|---|
| Strong Buy | 0 | 0 | 0 | 0 | 0 | 0 |
| Buy | 2 | 3 | 3 | 4 | 4 | 4 |
| Hold | 0 | 0 | 0 | 0 | 0 | 0 |
| Sell | 0 | 0 | 0 | 0 | 0 | 0 |
Earnings and sales forecast
Next report: 21.10.26 (Q3 2026, date not confirmed)
Earnings per share
Next quarter’s EPS estimate — $1.04 (from $0.99 to $1.07). Last quarter: $0.70.
Sales
Next quarter’s sales estimate — $204M (from $203M to $205M). Last quarter: $297M.
Best top-analyst consensus in the sector · Financial
About First Merchants
- CEO: Mark K. Hardwick
- Employees: 2,086
- 200 East Jackson Street, Muncie, IN, 47305-2814, US
- www.firstmerchants.com
First Merchants Corporation operates as a financial holding entity, primarily conducting its business through its subsidiary, First Merchants Bank. This institution delivers a full spectrum of community banking solutions. It accepts various types of deposits, including term, savings, and checking accounts. The company also extends a wide array of lending products, such as consumer, commercial, agricultural business, and real estate mortgage loans, in addition to public finance options. Beyond standard banking, First Merchants provides personal and corporate trust services, brokerage capabilities, and private wealth management. Its corporate offerings further include letters of credit, repurchase agreements, and other specialized financial services. The company maintains a network of 109 physical banking locations situated across counties in Indiana, Illinois, Ohio, and Michigan. Furthermore, it offers convenient access to its services via electronic and mobile platforms. First Merchants Corporation was established in 1893 and is headquartered in Muncie, Indiana.
Data from the stock’s TipRanks forecast page, read 113 min ago. It is read again as soon as a new rating appears and at least every 8 hours. TipRanks ↗